Carlyle group taking MILLIONS from Illinois Teacher Retirement fund

[Gabi Hayes]

I stopped getting the Tribune last week, and missed this

however, an SBC repairman told me about this yesterday, and it put me into a state of apoplexy

frickin CARlyle and the Republican hierarchy have their filthy hands on MY retirement money!!!!

http://www.chicagotribune.com/news/nationworld/chi-0508100130aug10,1,7889547.story

Federal authorities investigating the state teacher pension fund have subpoenaed the records of investment deals that netted the national Republican Party's treasurer $4.5 million, according to sources familiar with the investigation.

Robert Kjellander, who was named treasurer of the Republican National Committee on Friday, is among a number of political insiders whose dealings with the Teachers' Retirement System have come under scrutiny, according to sources who spoke on condition of anonymity.

Kjellander has not been accused of any wrongdoing and has said he has not been contacted by federal authorities. Last week, federal prosecutors charged former pension board member Stuart Levine with extorting money from investment firms that were seeking board business.

Kjellander, Illinois' longtime national Republican committeeman and a friend of President Bush's political strategist Karl Rove, has received $3.1 million representing The Carlyle Group, a Washington-based investment firm that focuses on private equities.

just when you think it can't get any more Fffffed up, this kind of story comes along

you think Danny Casolaro had his hands on an octopus. What must it really be like with the BFEE?

[GreenPartyVoter]

1. They just love to steal the money of hard working teachers

[Gabi Hayes]

3. well, it's time to find out what sort of kickbacks the people on the board

who ostensibly represent US are getting

just blows me away

[Gabi Hayes]

2. more......the fund has over FIVE HUNDRED MILLION

''committed to Carlyle in six investment deals with Kjellander serving as the firm's lobbyist.''

we start school next week, and that's the first thing I'm going to bring up at our meeting

time to get rid of the crooked board members who throw my money away to fricking THIEVES

another thing:

NEA's credit card company?

MBNfricking A!!!!

[Gabi Hayes]

5. I need a DRINK!

''Robert Kjellander, who was named treasurer of the Republican National Committee on Friday, is among a number of political insiders whose dealings with the Teachers' Retirement System have come under scrutiny, according to sources who spoke on condition of anonymity.''


stupid, corrupt ASSholes:

''Board officials, however, say Kjellander's $4.5 million in fees were among the highest they had ever seen and higher than they had realized....''

WTF does THAT mean, higher than they realized? did they NOT KNOW how much he was charging, going it?

they oughta prosecute the BOARD members for criminal negligence

[dogday]

4. Of course you wont' find Poppy's

fingerprints on this, he is always in the clear....

[Gabi Hayes]

6. course.....that's why I mentioned the Octopus

you know what'll happen to anybody who gets too close to the real story

god knows where all the tentacles reach

[melissinha]

7. Don't get too excited

Some of the records sought by investigators involved firms that figured in last week's indictment of Levine, now charged in multiple corruption cases, and Chicago attorneys Joe Cari, a former finance chairman for the Democratic National Committee, and Steven Loren, a former outside counsel for the teacher fund.

Levine was charged with using his trustee position at the Teachers' Retirement System to extort hundreds of thousands of dollars in kickbacks from investment firms. Cari was accused of helping Levine extort money from firms in return for Levine's help in getting Cari business with other Illinois public pension systems. Cari and Loren, who is also charged with assisting in the scheme, are cooperating in the ongoing probe and are expected to plead guilty, federal prosecutors said. Levine is to be arraigned Wednesday.

Why do our guys in Chicago pull this crap?

[Gabi Hayes]

8. I know.....they're all corrupt as the day is long, and Levine is

particularly slimy

however, how much did he personally profit?

what was his/his pals' end of the deal?

Carlyle appears, at this point, just to have been a bit less brazen, and the board at the very least mind bogglingly negligent

it'll be interesting to see how well the pugs have covered their tracks, in comparison to the dems.

just goes to show, though, that venality knows no party lines.

some day, Zeus willing, there will be a viable third party

[melissinha]

9. Amen

"just goes to show, though, that venality knows no party lines."

How can we really say our party is really above board, when its not? Wish it weren't so difficult to establish a viable 3rd party or to straighten ours out.

[The Backlash Cometh]

10. Just like the Florida Teacher's Pension plan and the Enron stocks.

Doesn't there get to be a point where you can recognize when a bank is being robbed?